Unemployment Drops to 4.1%

posted by Chris Hagenow | 777.80pc
January 30, 2015

The unemployment rate in Iowa dropped from 4.3% in November to 4.1% in December according to the latest Iowa Workforce Development report.Total Iowa nonfarm employment added 2,100 jobs in December and now rests at 1,642,900 jobs. Iowa was one of 42 states that saw a decrease in its unemployment rate.

In Iowa the labor force continues to expand, with 400 Iowans entering the job market in December. Between December of 2013 and December of 2014, 38,200 workers have joined the labor force. Additionally, the number of unemployed Iowans decreased by 2,500 in December. Since December of 2013, 38,100 Iowans have found employment.

Manufacturing led the state in job gains, adding 1,600 jobs in December. Manufacturing was followed by Professional & Business services (+1,500 jobs) and Other services (+600 jobs) respectively. Additionally, the Trade, Transportation & Utilities industry shed 1,000 jobs in December, which constitutes as the largest decrease in all sectors of employment.

Iowa has the 10th lowest unemployment rate in the country, and Iowa's rate continues to remain lower than the national rate, which stood at 5.6% in December. Additionally, Iowa's labor force continues to grow from month to month, a trend opposite of the national labor force.